As USDJPY Plunges, Ralph Elliott is Smiling Somewhere

It has been a wild ride for USDJPY traders last week. The pair opened at 111.31 on Monday and rose to 111.83 on Wednesday before crashing to 110.69 by Friday. It still managed to close the session above the 111.00 mark, but that is hardly a big relief for breakout traders, who thought joining the…

Read More »

Elliott Wave Pattern Sent EURUSD Higher, Not Trump or Cohen

What a week for EURUSD bulls! The pair is moving sharply up after weeks or even months of suffering. After opening at 1.1437 on Monday, the European currency climbed to almost 1.1623 against the U.S. dollar, before retreating to its current whereabouts near 1.1560. It is interesting to note that Donald Trump’s trade war, which…

Read More »

Riding EURUSD ‘s 1100-Pip Elliott Wave Crash

The way the year began gave EURUSD bulls a lot of reasons to hope for a great 2018. On February 19th, the euro was trading above 1.2400 against the U.S. counterpart, following a phenomenal 2017. Angela Merkel had just successfully negotiated the terms of her fourth mandate as a Chancellor of Germany and Donald Trump’s…

Read More »

Japanese Yen Refuses to be the Dollar’s Latest Victim

Last week, when most major currencies like the euro, the Canadian dollar and the British pound (not to mention the Turkish lira) fell against the U.S. dollar, one currency managed not only to hold its ground, but to actually gain some against the greenback. The Japanese yen ‘s rise dragged the USDJPY pair down to…

Read More »

Two Months Ahead of EURUSD ‘s Turkey-Driven Selloff

EURUSD’s selloff has resumed. The pair fell to as low as 1.1432 earlier today, following a Financial Times report stating the European Central Bank is concerned about some European banks’ exposure to Turkey’s currency crisis. Spain’s BBVA, Italy’s Unicredit, and France’s BNP Paribas were among the big names mentioned in the report. Now, let’s see how…

Read More »

AUDNZD Gains 500 Pips After Fibonacci Encounter

AUDNZD shot up sharply today, following a statement from the Reserve Bank of New Zealand that cemented the country’s interest rate at its current level for the foreseeable future. The pair was trading below the 1.1000 mark before the announcement, but rose to 1.1175 shortly after it. However, if you have been following our publications…

Read More »

GBPJPY Bears Remove a Major Hurdle

It has been less than 20 days since our last update on GBPJPY. On July 20th we shared our view that the pair is “looking into the hard Brexit abyss” and while the pair was trading around 146.20, we concluded that much lower levels should be expected. Of course, the bearish outlook was not based…

Read More »

USDCAD Down After a Tricky Elliott Wave Pattern

USDCAD climbed to 1.3290 on July 19th, but instead of lifting the pair even higher, the bulls lost momentum. A bearish reversal followed as a result. By July 25th, when we had to send our next update to subscribers, USDCAD was down to 1.3135. Was it a buy-the-dip opportunity or the beginning of a bigger…

Read More »

USDMXN Set to Recover, but Remains Vulnerable

It has been a painful month and a half for USDMXN bulls. The pair was almost touching the 21.00 mark on June 15th, when the bears returned with a vengeance to drag it to as low as 18.58 for an 11.3% plunge by July 26th. Some explain the strength of the Mexican Peso with the…

Read More »

New Forex Regulations in the European Union!

Forex regulations are about to change on the 1st of August for all traders in the EU. What’s happening? The European Securities and Markets Authority will force brokers to lower the leverage they offer on the four major currency pairs – EUR/USD, USD/JPY, GBP/USD and USD/CHF to 30:1. Minor pairs will see an even larger…

Read More »

GBPJPY Looking Into the Hard Brexit Abyss?

Our last update of GBPJPY came out on December 5th, 2017. It was focused on the long-term perspective and based on the daily chart of the pair, which did not look very encouraging for the bulls at the time to say the least. While the pair was trading above 151.10, the Elliott Wave Principle suggested…

Read More »

USDCAD Lost Over 300 Pips in Two Weeks. Here is Why

USDCAD climbed to 1.3386 on June 27th, which was its highest level in over a year. But instead of moving on to 1.3400 and above, the bulls stepped aside and allowed the bears to drag the pair to as low as 1.3077 on July 6th. And while this slump can be explained with the surge…

Read More »

AUDCAD Bulls Not Giving Up on Their Parity Dreams

Nine days ago, while AUDCAD was trading at 0.9820 on June 20th, we found a textbook 5-3 Elliott Wave pattern on its hourly chart, which suggested the bulls were going to lift the pair to parity in the next couple of weeks. And indeed, a rally occurred shortly after, but the resistance near 0.9930 did…

Read More »

AUDCAD Paving the Elliott Wave Road to Parity

Yesterday, we wrote about a pattern spotted on the chart of the Australian dollar against the New Zealand counterpart. Today, the Aussie is once again in focus, but this time against another one of its major rivals – the Canadian dollar. AUDCAD fell from 0.9935 to 0.9739 in just ten trading days this month. But…

Read More »

AUDNZD Bears Bumping into Fibonacci Support

Earlier this month we published an article about AUDNZD, sharing two slightly different, but both bullish counts, which are supposed to eventually lift the pair to 1.1500 or higher. It is too early to say how this is going, but at least the short-term outlook seems to support the bigger picture. AUDNZD has been declining…

Read More »